Small unmanned aerial vehicle (SUAV) market to grow by USD 11.21 billion from 2023 to 2028; Companies partnerships, collaborations, and agreements to drive the market growth- Technavio
NEW YORK., Nov. 17, 2023 /PRNewswire/ -- The small unmanned aerial vehicle (SUAV) market size is expected to grow by USD 11.21 billion between 2023 and 2028. However, the growth momentum of the market will be progressing at a CAGR of 13.91% during forecast period. The market is segmented by type (light fixed-wing SUAV, heavy fixed-wing SUAV, multi-rotor VTOL SUAV, and nano SUAV), application (civil and military), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
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Companies partnerships, collaborations, and agreements are the key factors driving the market growth. Market players are focusing on expanding their business, strengthening their market position, and increasing their sales by adopting business strategies such as partnerships, collaborations, and agreements. Furthermore, market players are consolidating their supply chain network with distributors to extend their international presence.
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The light fixed-wing SUAV segment is estimated to witness significant growth during the forecast period. The light fixed-wing SUAV is an aircraft that operates without a human pilot on board. The light fixed-wing SUAV may either be operated remotely by a human operator or autonomously by onboard computers.
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The fuel cells for military unmanned aerial vehicle (UAV) market size is estimated to to increase by USD 232.91 million at a CAGR of 9.82% between 2023 and 2028.
The electric unmanned aerial vehicle (E-UAV) market share is expected to increase by USD 5.42 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 14.36%.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Geography
Drivers, Challenges, & Trends
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